Samsung Wins Tanker Contract

Tuesday, November 15, 2005
According to a Korea Herald report, Samsung Heavy Industries Co. won a $422.5 million deal to build three arctic tankers for Russian state-owned shipper Sovcomflot. Samsung is the first Korean shipbuilder to receive an order for ice-breaking oil-carriers. Sovcomflot plans to operate the artic tankers over the Barents Sea between the Varandiy oil well in the Arctic Ocean and Murmansk harbor in Russia, according to the report. As oil development in the arctic region progresses, demand for at least 20 arctic tankers is expected by 2015. Source: The Korea Herald

Tanker Trends

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A wave of cargo cancellations from the US is putting additional pressure on VLGC rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.

Russian Tanker Detained in Malaysia

The Malaysian Maritime Enforcement Agency (MMEA) detained a Russian oil tanker Zolotoi Most along with 25 crew members for anchoring off Tanjung Piai without authorization,

 
 
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